The leasing environment in key global office markets is highly competitive with rents on prime spaces up by 3.6% year on year in the first quarter of 2016.
This is despite heightened financial market volatility and global economic across the 95 major markets covered by the JLL Global Office Index which also shows that quarter on quarter rents increased by 0.6% compared to 1.3% in the fourth quarter of 2015.
With the world’s major real estate markets appearing to be back on track following a cautious start to the year, business sentiment is improving and corporate activity is expected to ramp up over the course of 2016, according to the report.